China Lithium Market Dynamics & Lithium Procurement Study

China Lithium Market Dynamics and Lithium Procurement Study

Battery Recycling Technology Understanding

Solid State Battery Market

   China Scrap Steel Quality Analysis 

China Scrap Steel Cost Curve

Home

Metal News

Copper Snaps Four-Day Rally as Investors Await China Trade Data

CLNB 2024 9TH CHINA NEW ENERGY EXPO

Indonesia Nickel & Cobalt & EV Industry Conference 2024

ASEAN Tin Industry Conference 2024

ASEAN Coal Industry Conference 2024

ASEAN Aluminium Industry Conference 2024

2024 ASEAN Automotive Supply Chain

2024 Global Renewable Metal Industry Chain Summit

2nd Li-ion Battery Europe 2024

NET ZERO EUROPE - Solar & Energy Storage Summit

Chengyuan Plans Maintenance as Lead Concentrate Costs Jump

SINGAPORE, Sept. 9 -- Copper snapped a four-day rally as some investors sold the metal to lock in gains before China, the world's largest metals consumer, reports trade and economic data due on Sept. 11.
&nbsp;&nbsp;&nbsp; The Chinese statistics bureau and customs departments are scheduled to report data including figures tracking industrial production, trade, fixed-asset investments and inflation. The People's Bank of China is also scheduled to report figures for August money supply and loans.
&nbsp;&nbsp;&nbsp; &quot;Investors are being cautious and taking the opportunity to take some money off the table before China's trade data is released, because that will be where the direction will come from next,&quot; Li Rong, chief analyst at Great Wall Futures Co., said from Shanghai today.
&nbsp;&nbsp;&nbsp; Three-month delivery copper on the London Metal Exchange fell as much as 0.6 percent to $6,435 a metric ton, and traded at $6,460 a ton at 11:06 a.m. in Singapore.
&nbsp;&nbsp;&nbsp; December-delivery copper in New York slipped 0.3 percent at $2.9470 a pound, while the December-delivery contract on the Shanghai Futures Exchange added 0.8 percent to 50,250 yuan ($7,360) a ton, paring an earlier 2 percent gain.
&nbsp;&nbsp;&nbsp; A pause in the global equities rally also weighed on copper prices, said Li. The regional benchmark MSCI Asia Pacific Index fell for the first time in five days after JPMorgan Chase &amp; Co. downgraded Japanese banks. The metal used in construction and automobiles has more than doubled this year as the stock index jumped 29 percent.
&nbsp;&nbsp;&nbsp; Among other LME-traded metals, aluminum increased 0.3 percent to $1,900 a ton and zinc slid 1 percent to $1,960 a ton. Lead added 0.6 percent to $2,470 a ton, nickel gained 1.4 percent to $18,200 a ton, while tin hadn't traded by 11:11 a.m. in Singapore.
&nbsp;&nbsp;&nbsp; (Source: Bloomberg)
&nbsp;

LME Announces Launch Date for Minor Metals – 22nd February 2010

Copper Snaps Four-Day Rally as Investors Await China Trade Data | Shanghai Non ferrous Metals

Copper Snaps Four-Day Rally as Investors Await China Trade Data

SMM Events & Webinars

NET ZERO EUROPE - Solar & Energy Storage Summit

2nd Li-ion Battery Europe 2024

2024 Global Renewable Metal Industry Chain Summit